|
deep SW On. | Excellent question ,don'thave a good answer as there has always been "debt" .just not on the scale we have now...maybe debt was result of immigration in 1800's , WW 1 &2 & re-building countries ,long term inflation and for baby boomers & generation X "I want it now" ........have no real answer but too much good or bad debt won't end well , gov'ts talk about balanced budget but never about 0 debts or no debt growth . Yrs. ago a farmer told me it took his Grandfather until he was 72 to be debt free and then he could not believe how fast his money grew. For Europeons countries after losing everything in WW2 how did they deal with debts,land ownership,ect.? It is still hard too wrap your head around a 100 acre farm being worth a million dollars , maybe debt is too some extent like leasing or renting,it allows us too control something we can't afford...it looks like NA is losing its middle class pretty fast ,if it wasn't for all the dual income families they would be in trouble | |
|
Next economic question. WHY is debt so prevalent throughout the world today?
